§ 19-3.1-5 - Financial institutions administering burial grounds. - Rhode-island Statutes

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Statutes > Rhode-island > Title-19 > Chapter-19-3-1 > 19-3-1-5

SECTION 19-3.1-5

§ 19-3.1-5 Financial institutionsadministering burial grounds. – Every financial institution subject to this chapter shall have the power toaccept and hold property given by will or otherwise transferred to it in trustfor the care and preservation of burial grounds which have been in existencefor at least fifty (50) years before the creation of the trust and of thestones, monuments, fences, and other structures thereon, and to administer andapply the trust property in accordance with the terms of the trust; and shalllikewise have the power to accept and hold property given to it by will orotherwise transferred to it for the purposes listed in this section andadminister the property in accordance with the terms of the trust. Executorsmay transfer to any financial institution any legacy given for any of thepurposes listed in this section and the transfer shall be a valid discharge forthe legacy. Trusts for any of the purposes listed in this section are herebydeclared to be charitable trusts.

State Codes and Statutes

Statutes > Rhode-island > Title-19 > Chapter-19-3-1 > 19-3-1-5

SECTION 19-3.1-5

§ 19-3.1-5 Financial institutionsadministering burial grounds. – Every financial institution subject to this chapter shall have the power toaccept and hold property given by will or otherwise transferred to it in trustfor the care and preservation of burial grounds which have been in existencefor at least fifty (50) years before the creation of the trust and of thestones, monuments, fences, and other structures thereon, and to administer andapply the trust property in accordance with the terms of the trust; and shalllikewise have the power to accept and hold property given to it by will orotherwise transferred to it for the purposes listed in this section andadminister the property in accordance with the terms of the trust. Executorsmay transfer to any financial institution any legacy given for any of thepurposes listed in this section and the transfer shall be a valid discharge forthe legacy. Trusts for any of the purposes listed in this section are herebydeclared to be charitable trusts.

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State Codes and Statutes

Statutes > Rhode-island > Title-19 > Chapter-19-3-1 > 19-3-1-5

SECTION 19-3.1-5

§ 19-3.1-5 Financial institutionsadministering burial grounds. – Every financial institution subject to this chapter shall have the power toaccept and hold property given by will or otherwise transferred to it in trustfor the care and preservation of burial grounds which have been in existencefor at least fifty (50) years before the creation of the trust and of thestones, monuments, fences, and other structures thereon, and to administer andapply the trust property in accordance with the terms of the trust; and shalllikewise have the power to accept and hold property given to it by will orotherwise transferred to it for the purposes listed in this section andadminister the property in accordance with the terms of the trust. Executorsmay transfer to any financial institution any legacy given for any of thepurposes listed in this section and the transfer shall be a valid discharge forthe legacy. Trusts for any of the purposes listed in this section are herebydeclared to be charitable trusts.